Russia agrees to lease another nuclear submarine to India

Sources today said the deal was struck during the meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin on October 15 on the sidelines of the BRICS meet in Goa.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » Current Affairs

Oct 19, 2016, 03.59 PM | Source: PTI

Russia agrees to lease another nuclear submarine to India

Sources today said the deal was struck during the meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin on October 15 on the sidelines of the BRICS meet in Goa.

Like this story, share it with millions of investors on M3

Russia agrees to lease another nuclear submarine to India

Sources today said the deal was struck during the meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin on October 15 on the sidelines of the BRICS meet in Goa.

Post Your Comments

Share Cancel

Russia agrees to lease another nuclear submarine to India
After protracted negotiations, Russia has agreed to lease a second nuclear submarine to India in a deal which will cost around USD 2 billion.

Sources today said the deal was struck during the meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin on October 15 on the sidelines of the BRICS meet in Goa.

However, it was not part of the slew of announcements made after the talks.

The Defence Ministry and the Navy did not offer any information on the subject since it was a strategic platform coming under direct purview of the Prime Minister's Office.

Alexei Nikolski, a columnist with Russian daily Vedomosti, which broke the story, wrote, "According to a source in the Russian defence industry, the long-discussed lease to transfer a multipurpose Project 971 nuclear submarine to India from the Russian Navy was signed in Goa." The Akula 2 class submarine is expected to arrive in Indian waters in 2020-21.

The Indian Navy already operates an Akula 2 class nuclear submarine, INS Chakra (formerly known as K-152 Nerpa), which was leased by Russia for 10 years and commissioned on April 4, 2012 after India paid for its completion of its construction and sea-trials.

India had been keen to lease a second nuclear submarine.

Indian defence sources had said that Russia had linked the lease of the nuclear submarine to the agreement for four stealth frigates.

In Goa, India and Russia announced an over USD 3 billion frigate deal. Under the agreement, two stealth frigates will be built in Russia while the other two would be built in India under license production.

The Akula 2 class submarine, though not the latest class of nuclear-powered fast-attack submarines in the world, is still considered one of the most advanced.

Capable of sailing at speeds up to 35 knots (nearly 65 km per hour) under water, it is among the quietest Russian submarines.

Buy, Hold, Sell ? Hear it first on M3
Russia agrees to lease another nuclear submarine to India

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login